Baker Hughes (NASDAQ:BKR) Price Target Raised to $53.00 at Royal Bank of Canada

Baker Hughes (NASDAQ:BKR) had its target price raised by Royal Bank of Canada from $49.00 to $53.00 in a report released on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on the company. Barclays upped their price objective on Baker Hughes from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group lifted their price target on Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Piper Sandler increased their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Baker Hughes Price Performance

Shares of BKR opened at $47.40 on Monday. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $47.60. The stock has a 50 day moving average of $43.03 and a 200-day moving average of $39.12. The firm has a market cap of $46.90 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.89 and a beta of 1.39.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, analysts forecast that Baker Hughes will post 2.55 EPS for the current year.

Baker Hughes Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.23 per share. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.94%. Baker Hughes’s dividend payout ratio (DPR) is 28.19%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of Baker Hughes stock in a transaction on Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the transaction, the executive vice president now directly owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Baker Hughes

Institutional investors have recently bought and sold shares of the stock. National Pension Service boosted its holdings in shares of Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after buying an additional 81,625 shares during the period. Burney Co. boosted its stake in Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock worth $5,693,000 after purchasing an additional 105,349 shares during the period. Northstar Advisory Group LLC purchased a new position in Baker Hughes during the 4th quarter worth approximately $1,180,000. Artemis Investment Management LLP grew its position in Baker Hughes by 29.4% during the 4th quarter. Artemis Investment Management LLP now owns 1,053,947 shares of the company’s stock worth $43,233,000 after purchasing an additional 239,773 shares in the last quarter. Finally, Czech National Bank raised its stake in Baker Hughes by 6.0% during the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock valued at $8,801,000 after purchasing an additional 12,178 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.